Date Posted:


Purplebricks Group plc

17th December 2015

Zeus Capital acted as nominated adviser (NOMAD) and sole broker to Purplebricks Group plc (Ticker: PURP.L) on its AIM IPO and £58m fundraising, resulting in a market capitalisation on admission of £240m

Purplebricks is a national UK estate agency and lettings business operating a hybrid model driven by a combination of professional local property experts, technology and customer facing software.

The hybrid model pioneered by Purplebricks differs from online operators through its combination of using Local Property Experts (LPEs), technology and customer facing software. Purplebricks aims to change the whole experience of selling, buying and letting residential property, by providing a transparent and superior customer service at a fraction of the cost of a traditional estate agent.

The Company has grown rapidly since its launch in April 2014. In the 18 months since its regional launch, Purplebricks has emerged as the market leader in the hybrid and online sector, with a market share of the top six national online competitors in excess of 60%; and has approximately 4,300 residential properties for sale, which represents more than twice the number of properties than the next largest online agency. Purplebricks typically also sells its properties faster than its online competitors.

Michael Bruce, Founder and Chief Executive Officer, Purplebricks Group plc

“Purplebricks’ successful listing on AIM represents a major milestone in the evolution of the business over the last four and a half years and is testament to the team’s hard work and commitment. The funds raised will allow us to further deepen our presence across the UK through additional investment in people, technology, infrastructure and marketing to deliver our ambitious growth plans as well as value for all of our shareholders.”

Nick How, Director, Corporate Finance, Zeus Capital Limited

“Zeus Capital is delighted to have advised Purplebricks on its recent IPO and admission to AIM.  From the outset we have been very impressed by Purplebricks’s innovative hybrid service offering and the drive and quality of its entrepreneurial management team.  This is an important transaction for Zeus, and we are pleased to have attracted a large number of high quality institutional investors to the Company’s share register.  We look forward to supporting Purplebricks as it continues to grow and enters the next stage of its development.”